Good morning. We start the new trading week with relatively quiet newswires as earnings season begins to wind down. Moreover, this week's economic calendar starts off slow with no reports of significance both today and tomorrow.
Premarket gainers: CHIP, FEED, HOGS, SOLF, CEDC, EXTR, PEIX, UPL, CPN, AUXL, GGC, ENER, CRXL, CIEN, ASGN, AWK, ITWO, Q, CPN, & RGS.
Premarket losers: SIRF, CEA, ZNH, CORS, UAUA, TOD, FOSL, URBN, ABAT, HK, TITN, NCC, LPNT, CROX, EAT, & UAUA.
The big focus again remains on oil prices as crude prices increase on fear that the conflict between Russia and Georgia will disrupt oil supply. How both oil and the U.S. dollar trade will continue to play a significant role in overall market direction. Technically, we still need to see a push above 1300 in the S&P (we're now at 1296) to set the stage for a much larger counter-trend rally than we've already seen so far.
Have a great day!
